The estimated crush margin edged fractionally lower on a weekly basis in Central IL, ending a run of seven consecutive weeks of improved values after reaching a 71-week high last week. The value received from oil and meal sales per bushel of soybeans crushed declined from $12.94 per bushel to $12.79 while soybean prices fell 15 cents, closing at $10.59 per bushel. This allowed the margin to remain at $2.20 per bushel.
Soybean, meal and soybean oil prices remain well supported relative to last year. Strong cash market gains and export demand leave pricing, despite this week’s pull=back, at levels not seen since 2018. Soybean prices are 17 percent over last year’s value, soybean oil is 11 percent stronger, and meal prices are up 23 percent. The crush margin is 32 percent above where it stood on October 31, 2019.
The National Oilseed Processors Association (NOPA)…
05.07.2024
Singapore Airlines Group orders SAF from Neste ahead of mandate
The Singapore Airlines Group (SIA) will be the first to receive sustainable aviation fuel (SAF) from Neste’s expanded Singapore refinery, the companies announced on Monday May 6.
SIA...
05.07.2024
Animal fats prices to US Gulf jump on growing demand
Choice white grease prices went up in FOB markets on Tuesday, with trading done in a range of 37.5-39.5 cents per lb FOB Missouri River. Prices were boosted by...
05.07.2024
Feathermeal, ruminant bloodmeal prices lower; March IE MM well above 3-year average
US domestic feathermeal prices were lower in all six regions on Tuesday May 7, with reports of buyer pushback due to excess inventory levels in the market.
Fastmarkets...